Dana Investment Advisors Inc. Reduces Stock Holdings in Cactus, Inc. (NYSE:WHD)

Dana Investment Advisors Inc. lowered its position in Cactus, Inc. (NYSE:WHD) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,796 shares of the company’s stock after selling 311 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Cactus were worth $1,389,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WHD. Weiss Asset Management LP purchased a new position in shares of Cactus in the third quarter valued at $13,647,000. Fisher Asset Management LLC increased its position in shares of Cactus by 65.5% in the fourth quarter. Fisher Asset Management LLC now owns 546,987 shares of the company’s stock valued at $31,922,000 after buying an additional 216,543 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Cactus in the third quarter valued at $9,501,000. Assenagon Asset Management S.A. increased its position in shares of Cactus by 394.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 160,005 shares of the company’s stock valued at $9,338,000 after buying an additional 127,614 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Cactus by 6.5% in the third quarter. Geode Capital Management LLC now owns 1,758,286 shares of the company’s stock valued at $104,934,000 after buying an additional 106,819 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Stock Performance

Shares of NYSE:WHD opened at $47.36 on Friday. The company has a market cap of $3.77 billion, a P/E ratio of 16.79, a PEG ratio of 5.13 and a beta of 2.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus, Inc. has a one year low of $45.94 and a one year high of $70.01. The business’s 50-day simple moving average is $58.91 and its 200 day simple moving average is $60.68.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). The company had revenue of $272.12 million for the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, sell-side analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.10%. Cactus’s payout ratio is currently 18.84%.

Wall Street Analyst Weigh In

Separately, Barclays dropped their price objective on Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.00.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.